Commerce Minister Pichai heads to Japan to lure investment
Pichai to meet with key stakeholders, including major Japanese investors
Commerce Minister Pichai Naripthaphan has embarked on a visit to Japan with the aim of attracting significant investment to Thailand.
During his trip, Pichai will meet with key stakeholders, including the Japan Chamber of Commerce and Industry (JCCI), major Japanese investors, the Japan External Trade Organization (JETRO), and the Japan International Cooperation Agency (JICA).
The minister expressed confidence in attracting between 20 billion and 30 billion baht worth of new investment, highlighting the strong historical ties between the two nations. Japan has been a major investor in Thailand for more than 50 years, playing a crucial role in the development of the country's industrial base, particularly in the automotive and electronics sectors.
In 2023, Japan was Thailand's third-largest trading partner.
"We are grateful to Japanese investors for recognising Thailand's growth potential and conducive business environment," Pichai said. "The Thai government, led by Prime Minister Patongtarn Shinawatra, and the Ministry of Commerce are fully committed to supporting and facilitating all investments."
Pichai acknowledged the significant contributions of JETRO in promoting trade and investment between the two countries. He also expressed appreciation for JICA's support in improving the quality of Thai bananas, leading to increased exports to Japan. A futures contract for up to 5,000 tonnes of bananas, valued at 100 million baht, has already been signed.
During his visit, Pichai held discussions with key Japanese companies, including NTT Corporation and Nippon Steel Corporation. NSC, the world's fourth-largest integrated steel manufacturer, has a long-standing presence in Thailand, having invested in the country for more than 60 years.
"I am confident that this visit will reassure investors of Thailand's commitment to providing a supportive environment for business operations," Pichai said. "The government is committed to making Japan the No 1 source of foreign investment for Thailand."
The delegation accompanying Pichai includes Wutthikrai Leeviraphan, permanent secretary of the Ministry of Commerce, and Sunanta Kangvalkulkij, director general of the Department of International Trade Promotion.
